hi, how can I convert any remaining amount due in Sales Invoice to expenses?
My Sales Invoice is 10.000
The payment I received is 9950
How do I make the remaining 50 to expenses, as it won’t be paid by the customer anymore, without editing the Sales Invoice?
A credit note will reduce the balance due, but may not be the correct accounting. Credit notes indicate that the amount is no longer due because of voluntary action on your part. It may be more appropriate to write off the remaining balance, such as when debts are uncollectible. See https://www.manager.io/guides/14465. Write-offs can also be made for other reasons.
actually, it’s for the processing fee charged by the marketplace. We can’t know the exact fee charged by the marketplace until it was being paid to our account. So, what’s the difference if I use write-off/journal entry and credit note?
Then when you enter the receipt enter it as:
- receipt from customer +10.000 -> customer invoice
- market place fee -50 -> market fees expense account
In your situation, you should not use either. The marketplace fee is actually a payment to a different entity than the customer from whom you received the receipt. There have been many discussion on the forum about arrangements like this. Search for them to see which solution best fits your circumstances. Many will be found by searching for “PayPal” or “commission.”